Global Rechargeable Battery Market Outlook

The global rechargeable battery market is expected to grow at a CAGR of 6.8% between 2020 and 2025.

By 2025, li-ion batteries will make up to 70% of the overall rechargeable battery market, followed by lead-acid at about 20%. The li-ion battery industry size reached a value of USD 40.8 billion in the year 2019 and is expected to reach a value of USD 100.3 billion by 2025

The rechargeable battery market is driven by the increasing demand for portable electronic devices. The Asia Pacific is a significant market, strengthened by the rising demand for consumer electronics, such as smartphones and laptops. Further, the growing concerns regarding sustainability and eco-friendliness have been taken into account by several business sectors to fulfil their social responsibility, which is aiding the growth of the industry.

Properties and Applications

A rechargeable battery, variously known as secondary batteries, is referred to as a sustainable substitute for the one-time use battery consisting of active materials that can be regenerated upon charging. The battery produces electricity through an electrochemical reaction comprising of an anode, cathode, and electrolyte. These are not only cost-efficient and compact in size but also offer optimum runtime and long service life. Lead-acid, nickel-metal-hydride, nickel-cadmium, and lithium-ion are some of the frequently used rechargeable batteries.

The rechargeable battery market is divided on the basis of battery type into:

Lead-Acid

Li-ion

NiMH

NiCd

Others

On the basis of capacity, the market is divided into:

150 - 1000 mAh

1300 - 2700 mAh

3000 - 4000 mAh

4000 - 6000 mAh

6000 - 10000 mAh

More than 10000 mAh

Others

On the basis of application, the rechargeable battery market is segmented into:

Consumer Electronics

Industrial Applications

Automobile Applications

Defence

Others

The report also covers the regional rechargeable battery markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Market Analysis

The global rechargeable battery is driven by the rising demand for portable electronic devices all over the world. The market is further aided by the increasing demand for digital devices, such as smartphones, laptops, and tablets, along with several wearable and related smart devices, which has become an indispensable part of the majority of the global population. Moreover, rising environmental consciousness has bolstered the demand for EVs, leading to an increase in the sales of mid- to large-sized rechargeable li-ion batteries.

The market is further enhanced by the leading competitors within the industry making constant efforts to develop innovative variants with enhanced charging efficiency. For example, the introduction of Absorbent Glass Mat (AGM), which is an advanced lead-acid battery, and is gaining momentum in the automotive industry as it exhibits resistance to vibrations, offers superior overall performance, and has minimal acid leakage. Apart from that, innovations in the field of material sciences are expected to aid the market growth of rechargeable battery in the forecast period.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global rechargeable battery market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

East Penn Manufacturing Company

EnerSys Advanced Systems Inc.

Exide Industries Ltd

LG Chem

Saft Groupe SA

Samsung SDI Co., Ltd

Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

The major drivers of the market such as rising disposable incomes, growing urbanisation, increasing demand for portable electronic devices, and rising penetration of electronic devices and wearable smart devices are expected to aid the market growth.

Aided by the growing penetration of smart devices and increasing demand for portable electronic devices, the global rechargeable battery market is expected to witness a healthy growth in the forecast period of 2020-2025, growing at a CAGR of 6.8%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on battery type, the market is segmented into lead-acid, li-ion, NiMH, NiCd, and others. On the basis of capacity, the market is divided into 150 - 1000 mAh, 1300 - 2700 mAh, 3000 - 4000 mAh, 4000 - 6000 mAh, 6000 - 10000 mAh, and more than 10000 mAh, among others. Consumer electronics, industrial applications, automobile applications, and defence, among others, are the major application segments in the market. The major regional markets for rechargeable battery are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share in the market. The key players in the above market include East Penn Manufacturing Company, EnerSys Advanced Systems Inc., Exide Industries Ltd, LG Chem, Saft Groupe SA, and Samsung SDI Co., Ltd, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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